Infosys reported a good set of numbers for Q2FY20. Constant currency (cc) revenue grew by 3.3% qoq and 11.4% yoy. US Dollar revenue grew by 2.5% qoq and 9.9% yoy to $3,210mn. INR revenue grew by 3.8% qoq and 9.8% yoy to Rs22,629cr against consensus estimates of Rs22,521cr. EBIT stood at Rs4,912cr, up 9.9% qoq and 0.4% yoy against consensus estimates of Rs4,863cr. EBIT margin expanded by 120bps qoq but contracted by 204bps yoy to 21.7% which is marginally better than street expectations. PAT grew by 5.8% qoq but down 2.2% yoy to Rs4,019cr against consensus estimates of Rs3,210cr.
Digital revenue grew by 38.4% yoy cc and 10.7% qoq cc and now accounts for 38.3% of overall revenues.
Growth was broad-based except for Retail. Financial services grew by 10.3% yoy cc, Communication was up 19.2% yoy cc, Energy, Utilities, Resources & Services was up 19.1% yoy cc and Manufacturing was up 16.9% yoy cc.
Retail was flattish at 1.1% yoy cc, while Hi Tech was up 11.7% yoy cc. Life Sciences was up 10.9% yoy cc.
Amongst geographies, North America was up 11.9% yoy cc. Europe and RoW were up 13.4% yoy cc and 1.9% yoy cc, respectively.
The company has increased the lower end/band of the revenue guidance from 8.5-10% (cc) to 9.0-10% for FY20.
Attrition has come down from 23.4% in Q1 to 21.7% in Q2FY20. Utilization excluding trainees improved by 180bps qoq to 84.9%.
Infosys Ltd is currently trading at Rs. 804.85, up by 21.95 points or 2.8% from its previous closing of Rs. 782.90 on the BSE.
The scrip opened at Rs. 785.95 and has touched a high and low of Rs. 813 and Rs. 777 respectively. So far 1,33,23,650 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
Start investing in Equities, Derivatives, Mutual Funds and Currency
Temporary Password will be sent to your Mobile No. / Email Address to reset your password.
Make smart financial decisions
Trusted by more than 25 Lakhs Indians
Research and Stocks
Strategy and Tools
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.